Entrepreneurship is picking up in India and particularly in Hyderabad. Incubators and accelerators are coming up in the city which will change the ecosystem. The country needs quality entrepreneurs. They should look at niche offerings and work on ideas and businesses that are scalable. Crowd mentality will not help the Indian startup ecosystem, experts point out.
Dr. Sridhar Condoor, a professor in Aerospace and Mechanical Engineering in the US varsities and a mentor to startups and entrepreneurs, who was in Hyderabad recently, told Telangana Today, “Venture capital companies are helping ventures achieve scale. Failures are expected in the startup space. It is good that they fail early than late. Entrepreneurs should seek help throughout their business life cycle. They should indulge in co-creation of products and services with inputs and feedback from customers. They should be risk takers.”
“A significant number of these startups are engineers. I am trying to improve the curriculum in the Indian engineering colleges. The curriculum is mostly outdated. Quality of Indian education needs to improve. There is very little room to be creative and innovative. We need to fix these issues. Academia cannot work in silos. Universities in the US collaborate, share their learning and interact with industry. A lot of innovation happens in the US varsities,” he said. Startup ecosystemTalking of differences in the startup ecosystem in India and the US, he said, in the US, information technology is just a part of the ecosystem. Innovations happen in agriculture, sports and other fields as well.
